DRDGold has declared a 75 per cent increased full year dividend of 35 cents per share after siting higher production and output for the period.
DRDGOLD has seen a 33 per cent increase in gold production for its 2019 interim results. The company has also declared a dividend of 25 cents per share and headline earnings have jumped to 48 cents from the previous period of 7 cents per share. Joining CNBC Africa for more is Riaan Davel, CFO of DRDGOLD.
Sibanye-stillwater, a 38 per cent shareholder in DRDgold, has exercised its option to acquire an additional 12 per cent interest in the company. The mining giant now has a majority stake of just over 50 per cent in DRDGold. Neil Pretorius, CEO of DRDgold joins CNBC Africa for more.
South Africa’s gold industry has seen an increased number of attacks by armed robbers at their mines. One such attack occurred last week at gold producer DRDGold’s Ergo plant, resulting in the death of a chief security officer and a loss of an estimated 17kg’s of gold. Niël Pretorius, CEO of DRDgold joins CNBC Africa for more.
DRDGold’s share price fell almost 4 per cent after its interim results revealed a 3 per cent decrease in gold production and operating profit down by more than half. The gold producer was also not immune to load shedding, losing approximately 49kg of gold due directly to power supply disruptions. Joining CNBC Africa for more is Niël Pretorius the CEO of DRDGold.
Although there isn’t 100 per cent ideological alignment on everything, players in the mining industry take comfort from the fact that there is constructive engagement. This is according to Niël Pretorius, CEO of DRDGOLD, who spoke to CNBC Africa’s Fifi Peters at the 25th Investing in African Mining Indaba in Cape Town. They also talk about the single biggest challenge for DRDGOLD being the reliability of the power supply, and other pertinent issues like the institutional damage that had been done in the past.